Municipals
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Municipal Bond Market Summary:
Week Ending 11/6/20
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 Muni Bond “Winners” based on price movements between 10/30/20 – 11/6/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | PR COMWLTH REF-IMPT | 5.00% | 07/01/26 | 4.61% | 67.13 | 64.17 |
| 2 | GENESEE CO-A-REV | 5.00% | 06/01/29 | 4.19% | 131.45 | 126.16 |
| 3 | REDONDO BEACH UNIF SD | 2.11% | 08/01/35 | 3.39% | 99.29 | 96.03 |
| 4 | ESSEX CO | 2.13% | 09/01/49 | 2.76% | 98.96 | 96.30 |
| 5 | FOWLER SD-CABS-2004-C | 0.00% | 08/01/40 | 2.70% | 62.08 | 60.45 |
| 6 | NYC TRANSITIONAL FIN | 1.35% | 05/01/27 | 2.68% | 101.33 | 98.68 |
| 7 | CO HLTH FACS AUTH-A | 5.50% | 11/01/37 | 2.58% | 80.97 | 78.94 |
| 8 | NEVADA ST-A-REF | 2.00% | 05/01/37 | 2.38% | 99.75 | 97.43 |
| 9 | COLTON SD ELECTION-C | 0.00% | 02/01/38 | 2.30% | 65.45 | 63.98 |
| 10 | BOLINGBROOK-A-REF | 2.57% | 01/01/36 | 2.20% | 102.84 | 100.62 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 10/30/20 – 11/6/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | NEW YORK CITY TRANS | 3.90% | 05/01/31 | -2.80% | 111.58 | 114.79 |
| 2 | PRAIRIELANDS PUB FAC | 7.10% | 12/01/37 | -2.75% | 71.22 | 73.24 |
| 3 | HIGHER EDUCTNL FACS-B | 2.59% | 12/01/29 | -2.62% | 100.78 | 103.50 |
| 4 | MONTGOMERY CO INDL-C | 4.00% | 11/15/43 | -2.48% | 106.63 | 109.34 |
| 5 | ILLINOIS ST-REF | 5.00% | 02/01/29 | -2.36% | 106.67 | 109.24 |
| 6 | UT BLDG LEASE SER E | 5.77% | 05/15/30 | -2.35% | 127.52 | 130.59 |
| 7 | FRESNO FING-B-REF | 4.16% | 04/01/31 | -2.23% | 111.79 | 114.35 |
| 8 | BURLINGTON | 2.00% | 08/01/38 | -1.97% | 96.60 | 98.55 |
| 9 | FRANKLIN IN REDEV | 5.00% | 07/15/39 | -1.97% | 119.50 | 121.90 |
| 10 | CLEMSON UNIV-B-HGR | 2.75% | 05/01/28 | -1.89% | 106.58 | 108.63 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 10/30/20 – 11/6/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | IN | -79 bps | 1.82% | 2.61% |
| 2 | AL | -31 bps | 1.26% | 1.57% |
| 3 | MD | -29 bps | 1.53% | 1.82% |
| 4 | WV | -28 bps | 1.21% | 1.49% |
| 5 | AR | -26 bps | 1.68% | 1.94% |
| 6 | UT | -22 bps | 1.21% | 1.43% |
| 7 | MN | -22 bps | 1.65% | 1.87% |
| 8 | VA | -20 bps | 1.36% | 1.56% |
| 9 | WA | -17 bps | 1.47% | 1.64% |
| 10 | DC | -17 bps | 1.36% | 1.54% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 10/30/20 – 11/6/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | KS | 40 bps | 2.30% | 1.89% |
| 2 | LA | 35 bps | 1.90% | 1.55% |
| 3 | IL | 29 bps | 3.27% | 2.98% |
| 4 | CT | 26 bps | 2.09% | 1.83% |
| 5 | AK | 11 bps | 1.67% | 1.56% |
| 6 | OH | 11 bps | 2.08% | 1.98% |
| 7 | MS | 7 bps | 1.43% | 1.36% |
| 8 | MA | 6 bps | 1.72% | 1.67% |
| 9 | FL | 5 bps | 1.42% | 1.37% |
| 10 | NY | 5 bps | 1.69% | 1.64% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/30/20 – 11/6/20 (General Obligation and Revenue Bonds)
Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – GO Only
Displays the average Muni 10 year yield by state between 10/30/20 – 11/6/20 (General Obligation Bonds only)
Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – Rev Only
Displays the average Muni 10 year yield by state between 10/30/20 – 11/6/20 (Revenue Bonds only)
Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
Sentiment
Reveals the percent of Muni bonds increasing in price (advancers) vs. decreasing in price (decliners) between 10/30/20 – 11/6/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/30/20 vs. the week ending 11/6/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/45 | 12 | 115 | 103 | 858% |
| 2 | CYPRESS FAIRBANKS ISD | 3.00% | 02/15/40 | 10 | 98 | 88 | 880% |
| 3 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/44 | 8 | 85 | 77 | 963% |
| 4 | CYPRESS FAIRBANKS ISD | 3.00% | 02/15/39 | 9 | 74 | 65 | 722% |
| 5 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/41 | 7 | 66 | 59 | 843% |
| 6 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/42 | 7 | 66 | 59 | 843% |
| 7 | CYPRESS FAIRBANKS ISD | 3.00% | 02/15/36 | 6 | 55 | 49 | 817% |
| 8 | NEW YORK ST URBAN DEV | 3.00% | 03/15/50 | 31 | 78 | 47 | 152% |
| 9 | FAIRFAX CO | 5.00% | 10/01/33 | 19 | 65 | 46 | 242% |
| 10 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 52 | 98 | 46 | 88% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/30/20 – 11/6/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 42 |
| 2 | MISSOURI ST HLTH & ED | 3.00% | 06/01/53 | 34 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 10/15/45 | 29 |
| 4 | NEW YORK CITY NY MUNI | 4.00% | 06/15/50 | 29 |
| 5 | MICHIGAN ST BLDG AUTH | 3.00% | 10/15/45 | 28 |
| 6 | NEW YORK CITY NY MUNI | 5.00% | 06/15/50 | 27 |
| 7 | NYC TRANSITIONAL FIN | 4.00% | 11/01/38 | 27 |
| 8 | PENNSYLVANIA CMWLTH | 2.13% | 05/01/40 | 26 |
| 9 | NEW YORK CITY NY TRAN | 4.00% | 05/01/40 | 26 |
| 10 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 26 |
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